ICA, NIBA make case for products bill clarity
05 November 2018
Insurers have pressed their case for product design and distribution legislation changes at a Senate committee inquiry, and will seek more clarity from the regulators…
Regulatory & Government
Byres retained as APRA wins funding boost
05 November 2018
The Australian Prudential Regulation Authority will receive $58.7 million in new funding over the next four years, and Chairman Wayne Byres has been reappointed to run the regulator for another five years…
Funder backs cladding class action
05 November 2018
Litigation funder IMF Bentham and William Roberts Lawyers will launch a class action for property owners who have been forced to pay for the removal of combustible polyethylene-core cladding from their buildings…
APRA backs disclosure duty
05 November 2018
The Australian Prudential Regulation Authority has argued against any watering-down of the duty of disclosure in its submissions to the Hayne royal commission…
AFCA takes on code governance support role
05 November 2018
The Australian Financial Complaints Authority started work, supporting independent committees that monitor compliance with industry codes of practice…
ARPC considers insurance in cyber terrorism study
05 November 2018
Introducing property coverage that responds to cyber terrorism will be considered as part of the Australian Reinsurance Pool Corporation’s research on digital threats…
NZ bails out EQC as fund runs dry
05 November 2018
The New Zealand Government has provided $NZ50 million to the Earthquake Commission to continue covering catastrophes after the Canterbury and Kaikoura earthquakes depleted the state-owned insurer’s Natural Disaster Fund…
Alleged insurance fraudster faces trial
05 November 2018
A Victorian man will stand trial for fraud over allegations he was paid premiums for fake insurance policies…
Review demands independence for WorkSafe ACT
05 November 2018
A review of WorkSafe ACT has recommended it be restructured as a standalone entity…
ASIC forces $117 million add-on refund
05 November 2018
About $117 million was returned last financial year to consumers who bought add-on products from motor vehicle dealers, the Australian Securities and Investments Commission says…
Review weighs ban on liability cover
29 October 2018
A Safe Work Australia independent review will likely include recommendations on insurance covering workplace health and safety breaches, with a Senate committee report this month fuelling debate on whether it should be banned…
Enforceable undertakings ‘work as deterrent’
29 October 2018
Enforceable undertakings imposed by the Australian Securities and Investments Commission are deterring bad behaviour, according to a University of NSW study.
AFCA sets out priorities
29 October 2018
The Australian Financial Complaints Authority has outlined its strategy before its official launch on Thursday…
APRA to review enforcement powers after royal commission criticism
29 October 2018
The Australian Prudential Regulatory Authority is reviewing the resources and governance structure around its enforcement powers after the Hayne royal commission questioned why it isn’t using its court-based sanction powers…
Shipton vows to avoid ASIC corporate ‘favouritism’
29 October 2018
Australian Securities and Investments Commission Chairman James Shipton is “attuned and very alert” to suggestions the regulator has been too supportive of the companies it oversees…
SA prepares to shut CTP body
29 October 2018
The Motor Accident Commission in SA will “wind down” next July…
Hayne’s culture spotlight shines in NZ
29 October 2018
New Zealand’s Financial Markets Authority has published its annual report, focusing on efforts to improve culture in the insurance and banking sector…
Privacy commissioner marks milestone year
29 October 2018
The past year should be remembered as a milestone in the privacy landscape, Australian Information Commissioner and Privacy Commissioner Angelene Falk says…
Builder wins icare staff safety award
29 October 2018
Insurance & Care NSW has named family-owned Buildcorp as the winner of last month’s Aware award, recognising efforts to enhance workplace safety behaviour…
Industry ‘caught up’ in product rules reform
22 October 2018
The National Insurance Brokers Association has called for insurance to be withdrawn from new legislation designed to help eradicate the mis-selling of financial products…